Insight and Intelligence on the London & International Insurance Markets

28 March 2017

Search archive

BigFoot claim settled for $550mn

Charlie Thomas and Adam McNestrie 1 February 2017

The upstream energy market has settled a major construction claim related to the faulty BigFoot Gulf of Mexico platform for less than many in the sector had first feared, The Insurance Insider can reveal.

Lead insurer Munich Re Underwriting struck the deal at the outset of the year, with carriers agreeing to pay out $550mn to the Chevron-led joint venture.

Carriers in the market are pleased with the agreement, given fears that the loss could spiral towards the high hundreds...


If you are a non-subscriber but would like to be able to view this article, then please go to our Publications page for further information on joining our readership



Share:

Euromoney Trading Limited - 3rd Floor, 41 Eastcheap, London, EC3M 1DT, United Kingdom. The content of this website is copyright of Euromoney Trading Limited 2017. All rights reserved Euromoney Trading Limited actively monitors usage of our website and products and reserves the right to terminate accounts if abuse occurs.

Π